Cannabis banking bill amendments & new name (Newsletter: September 20, 2023)

Fed worker marijuana bill scaled back; NH weighs “franchise” legalization model; CA bills on gov’s desk; OR drug decrim repeal; OH GOP ballot oppo

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/ TOP THINGS TO KNOW

The marijuana banking bill up for a vote next week has a new name—the Secure and Fair Enforcement Regulation Banking Act (SAFER) Banking Act—and revised provisions, including in a controversial section that had previously held up committee action. Senate Majority Leader Chuck Schumer (D-NY) said the reworked bill “allows legal cannabis businesses…access to financial services” while letting federal regulators “stop bad actors”—and he’ll bring it to the floor “with all due speed.”

• Senate Banking Committee members Sens. Kevin Cramer (R-ND) and Jack Reed (D-RI) indicated in new interviews that disagreements over Section 10 of the marijuana banking bill have been resolved ahead of next week’s vote.

House Oversight and Accountability Committee Chairman James Comer (R-KY) plans to file an amendment gutting key provisions of a bill up for a vote in his panel on Wednesday that would, as introduced, protect people from being denied federal employment or security clearances due to marijuana use—and to provide relief for people who lost opportunities in the past.

• A staffer for Rep. Nancy Mace (R-SC) told Marijuana Moment that she plans to support Comer’s amendment to allow federal agencies to continue refusing to employ or issue security clearances to current cannabis consumers.

A New Hampshire commission charged with drafting legislation to legalize marijuana sales through state-run stores heard testimony from state liquor officials about a new “franchise model” for cannabis dispensaries. It’s not clear if Gov. Chris Sununu (R) would support the plan.

California Gov. Gavin Newsom (D) is set to decide on 17 marijuana and drug policy reform bills by October 14—including measures to allow cannabis cafes, legalize psychedelics, prevent employers from asking job applicants about marijuana use and more.

Ohio Gov. Mike DeWine (R) and the Senate president are speaking out against the marijuana legalization initiative on the November ballot—but bipartisan lawmakers doubt the legislature will repeal the measure if voters approve it on Election Day.

A new campaign in Oregon has filed two versions of proposed ballot initiatives that would reverse parts of a voter-approved drug decriminalization law by reinstituting criminal penalties for some substances and making other changes.

The United Food and Commercial Workers International Union and a coalition of cannabis trade associations and drug policy reform groups sent a letter calling on Congress to pass a marijuana banking bill to address the “humanitarian toll” of robberies targeting cash-intensive businesses.

A growing number of Missouri colleges and universities are launching cannabis courses to prepare students for jobs in the legal marijuana industry.

/ FEDERAL

The House marijuana banking bill got two new cosponsors for a total of 72.

/ STATES

The Wyoming legislature’s Joint Judiciary Committee held a hearing on draft legislation to restrict delta-8 THC products.

A former U.S. Virgin Islands senator authored an op-ed pushing officials to swiftly implement medical and recreational marijuana legalization.

The Florida Supreme Court is being asked to take up the case of a former Department of Corrections employee who said he was improperly fired for medical cannabis use.

Connecticut regulators are defending the hiring of a former cannabis business CEO to oversee investigation and enforcement of marijuana sales rules.

Pennsylvania regulators filed an updated list of pesticides that can be used on medical cannabis.

Missouri regulators published guidance on the marijuana item approval process.

Minnesota regulators published guidance about hemp-derived cannabinoid product testing.

New York marijuana regulators removed public comment portions from a video of a recent meeting.

Colorado regulators are accepting public feedback about the online medical cannabis registry system.

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Marijuana Moment is tracking more than 1,000 cannabis, psychedelics and drug policy bills in state legislatures and Congress this year. Patreon supporters pledging at least $25/month get access to our interactive maps, charts and hearing calendar so they don’t miss any developments.

Learn more about our marijuana bill tracker and become a supporter on Patreon to get access.
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/ LOCAL

The Philadelphia, Pennsylvania City Council voted to prohibit safe consumption sites for illegal drugs from opening in most parts of the city.

A former Compton, California City Council member was arrested on a federal grand jury indictment alleging that he and a consulting client paid $70,000 in bribes to a member of the Baldwin Park City Council in exchange for support for marijuana permits.

/ INTERNATIONAL

The UK’s Advisory Council for the Misuse of Drugs recommended decriminalizing drugs in a paper that the Home Office ignored and fought to keep confidential.

The European Monitoring Centre for Drugs and Drug Addiction held a webinar on cannabis regulation in Europe.

British Columbia, Canada’s health officer defended the province’s drug decriminalization policy from criticism.

Australian regulators fined a company A$140,000 for alleged unlawful advertising of medicinal cannabis.

/ SCIENCE & HEALTH

A study found that CBD “inhibits the proliferation and Invasiveness of prostate cancer cells.”

A review of Alzheimer’s disease research concluded that “LSD and psilocybin specifically were found to have neuroprotective properties as well as promotion of neurogenesis.”

/ ADVOCACY, OPINION & ANALYSIS

The Colorado Springs Gazette editorial board is concerned about marijuana-impaired driving.

/ BUSINESS

Columbia Care Inc. changed its name to The Cannabist Company Holdings Inc.

Aurora Cannabis Inc. received approval to transfer the listing of its shares from the Nasdaq Global Select Market to the Nasdaq Capital Market.

Subversive Capital Advisor launched a new Subversive Cannabis ETF.

Steve Cohen’s Point72 Asset Management purchased nearly 19 million shares in Cybin Inc.

Clearmind Medicine Inc. closed a $2.25 million public offering.

COMPASS Pathways plc has a new board member.

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